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### Compound interest

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```Please help me solve this
Suppose you project that you will be able to deposit the following monthly amounts into a savings account for a period of five years. The account initially has no money in it.
_____________________________________________________________________
Year                             1                       2                3                     4               5
Monthly Deposit           300                   350              350                 350           400
_____________________________________________________________________
At the end of each year in which the account balance is at least 3000\$, you withdraw 2000\$ to by a certificate of deposit(CD), which pays 6 percent interest compounded annually.
Write a MATLAB program to compute how much money will accumulate in five years in the account and in any CDs you buy. Run the program for two different Savings interest rates: 4% and 5%
Your help will be greatly appreciated!!
```
 0
Reply Mohamed 3/31/2010 10:10:21 PM

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```"Mohamed " <m0c55@yahoo.com> wrote in message <hp0h8d\$rcf\$1@fred.mathworks.com>...
> Suppose you project that you will be able to deposit the following monthly amounts into a savings account for a period of five years. The account initially has no money in it.
> _____________________________________________________________________
> Year                             1                       2                3                     4               5
> Monthly Deposit           300                   350              350                 350           400
> _____________________________________________________________________
>            At the end of each year in which the account balance is at least 3000\$, you withdraw 2000\$ to by a certificate of deposit(CD), which pays 6 percent interest compounded annually.
>            Write a MATLAB program to compute how much money will accumulate in five years in the account and in any CDs you buy. Run the program for two different Savings interest rates: 4% and 5%
> Your help will be greatly appreciated!!

Since this is pretty clearly a classroom assignment of some kind, you should show the effort you have already made in trying to solve the problem.  Then you might get some hints here.  If you don't have any idea of how to get started, you should go to your teacher and explain that you have no idea how to get started.

the cyclist
```
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Reply the 4/1/2010 1:49:04 AM

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